- 10 July 2016
Rate Club - July 10, 2016
Mortgage Lending Figures Are In!
- VIC - leading the way with 16.6% of mortgage increases
- NSW - 12.2%
- SA - was up 12.2% aslo
- QLD - 4.5%
- WA - there was a drop of 13.4% in mortgages
A great sign was that the non-majors have lifted their share to 29.1% of the market. These figures have come from AFG.
People always fix at the wrong time in response to banks advertising. From the start of the last financial year fixing was 14.5% this jumped to 20% in April and May. This was in response to the banks urging. Right before the rate drop!! Fixers lost! Take a look at my response to this weeks interest rate decision from the Reserve Bank of Australia with Phil Hill.
You watch, they will start pushing rates again soon knowing that the rates will drop yet again! I guess that is the benefit of the club. We have the time and experience with when to fix and when NOT to fix. It’s all about education and helping others with their property and their finance. Each person’s situation is different so if you have been advised to fix, I would suggest getting more information before you do. We have strong relationships with our Club approved brokers, who are ready to assist and get you the best deals. Simply contact your Property Mentor if this is you. Hope this helps you.
Regards,
Kevin Young
Related Posts
The Christmas Property Myths That Cost Investors Money
Every year the property market slows as people turn their attention to travel Christmas shopping and family time. With so much noise around the holidays it is easy for investors to absorb advice that sounds reasonable but has little basis in how the market actually works. Property Club continues to watch these...
Sydney Units Are Quietly Entering Their Next Growth Phase
Sydney is heading into another shift, but it is not happening in the prestige house market or the headline grabbing suburbs. The real movement is in well-located units sitting close to transport, education and major employment hubs. These are the properties renters line up for and the ones buyers turn to when house...
The Psychology of Suburb Selection: Why Investors Keep Returning to the Same Postcodes
Most investors think they choose a suburb based on research, data and logic. In reality there is often something deeper at play. Suburbs hold emotional weight. They remind us of where we grew up, where our friends live, where we once rented, or where we felt safe. Familiarity feels comfortable, which is why so many...